Dow Jones Industrial Average Adds Triple Digits on Energy, Earnings

The GoPro Supplier Getting Slammed; Plus, Twitter's Wild Losing Streak

Jan 14, 2016 at 12:18 PM
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The Dow Jones Industrial Average (DJIA) is up triple digits at midday, as traders weigh an unexpected jump in jobless claims against solid earnings from JPMorgan Chase & Co. (NYSE:JPM) and rebounding oil, which has pushed Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) higher. The S&P 500 Index (SPX) is also in the black today, regaining its foothold above the 1,900 level. Meanwhile, traders are digesting comments from St. Louis Fed President James Bullard, who said it may take longer than expected to reach the Fed's 2% inflation target, as well as a sixth straight drop in import prices.

Continue reading for more on today's market -- and don't miss:

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Sprint Corp (NYSE:S) is among the stocks with unusual option volume, with puts crossing the tape at 21 times their average intraday rate, bringing the day's put/call volume ratio to a staggering 67.77 -- an annual high. However, most of the action is attributable to a block of more than 62,000 January 2016 5-strike puts being sold to close, per Trade-Alert. S is trading up 3.1% at $3.20 today, after hitting an all-time low of $3.05 on Wednesday. 

Among the winners on the Big Board today is financial holding company JPMorgan Chase & Co. (NYSE:JPM), last seen 1.8% higher at $58.37, after reporting strong quarterly financials before the market opened this morning. However, the stock still has a way to go before erasing its 2016 deficit of 11.5%.

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GoPro supplier Ambarella Inc (NASDAQ:AMBA) is among the worst performers on the Nasdaq, shedding 11% to trade at $39.69 -- a new annual low -- on the headwinds of GPRO's latest news, and after garnering a few bearish brokerage notes of its own. More downgrades could easily send AMBA even lower, but that's just what short sellers are hoping for.

The CBOE Volatility Index (VIX) is down 1 point, or 3.9%, at 24.25.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.55, with puts outnumbering calls. However, both SPY calls and puts are running at about 1.5 times the average intraday pace. SPY was last seen 1.8 points, or 1%, higher at $190.71.

 

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